ALNET Technologies empowers leading investment organisation with Sage IntacctVisit our press officeALNET Technologies reports the benefits reaped by a leading investment organisation that recently embraced the financial power of Sage Intacct. In doing this, it achieved a 70% efficiency rate across 48 entities during its monthly close.
He reveals this company resorted to Excel-based spreadsheets to compile departmental expenses because its legacy system could not provide the allocation rules required for processing and reporting. “Daily and weekly shared expense allocations across the business and entities were manual, time-consuming and monotonous tasks due to their inability to process inter-company transactions and lack of multi-entity capabilities.
“With Sage Intacct, this company’s finance team reduced the time needed for closing the books by an impressive 70%. This encompassed everything from manual and tedious expense allocations in Excel to bank reconciliations, inter-company journal entries and accruing for liabilities and provisions required for the month.”
According to Maharajh this entity now has a clear picture of its cash on hand trends and working capital, enabling data-driven decisions based on real-time information flowing into its dashboards and reports. “Key performance indicators on the dashboard scorecards highlight areas that need attention for quick decision-making processes.